Inventory levels continued to decline in June — down about 70% from where they were at the same point in 2019 — as production interruptions from supply shortages combined with strong retail demand continued to empty dealership lots, according to a report by Automotive News.
Dealers had just 1.13 million vehicles on hand or in transit to start July, according to data compiled by Cox Automotive subsidiary vAuto. That represented what Cox said was a record-low 25-day supply, based on the selling rate from the previous 30 days. It also was about 650,000 vehicles lower than where the industry was a month earlier, when dealers had access to a 35-day supply.
Cox said inventory levels for mass-market brands fell below 1 million vehicles to about 934,000 to start July. Within segments, inventories remain scarcest for minivans, followed closely by SUVs, crossovers and pickups; inventory levels were better among large cars, luxury cars, electric vehicles and subcompact crossovers.